Ethereum And Litecoin Could Be Boosted By An Exciting New Exchange Offering

Ethereum, traded through the digital token ether, and litecoin could be about to join bitcoin in the futures market after U.S. retail brokerage TD Ameritrade announced it is investing in new cryptocurrency exchange, ErisX. TD Ameritrade's 11 million clients are already able to trade bitcoin futures over the Chicago Board Options Exchange (CBOE) Futures Exchange after both the CME Group and CBOE introduced them in December last year. The development could be a good sign for the ethereum price, which has struggled throughout 2018, falling more than 80% from its peak in January. ErisX plans to launch spot trading in the first half of 2019, with physically settled futures to launch later next year. “It could open up additional cryptocurrency products on the future and spot side that our clients could potentially trade,” J.B. Mackenzie, TD Ameritrade’s managing director of futures and foreign exchange, told Reuters. "We continue to see our retail clients seeking access to trade digital currency products," Mackenzie said, speaking this time to CNBC. "We wanted to find a platform that would be fully regulated, and something that has that capital markets feel." While many are excited to see how ethereum and litecoin futures affect the market, the introduction of futures trading has not been enough to stem bitcoin's losses this year. Bitcoin is down some 60% from its highs at the end of 2017 as investors lose patience waiting on much anticipated institutional money to enter the market. When the CBOE launched bitcoin futures trading back in December it attracted so much trading volume that the CBOE website temporarily went down — it seems unlikely ethereum and litecoin futures will generate the same level of interest.